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EV penetration in domestic 2W mkt can rise to 40% by FY31: Ather Energy
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Electric two-wheeler penetration could rise to about 40% by FY31 in an ‘optimistic scenario’ when the overall two-wheeler industry in India touch 3-3.1 crore units annually growing at 8% CAGR, according to Ather Energy Ltd.
The growth is expected to be driven by increased EV launches, strong government support, rapid infrastructure development, reduced battery prices, and a faster consumer shift, the company said in its annual report for 2024-25.
In its management discussion and analysis, Ather Energy said the rapidly expanding EV market, propelled by…
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